Mahindra Manulife Manufacturing Fund
Direct · GrowthAI Summary
The fund delivered a 1-year SIP XIRR of 9.67%, which is below the category average of 14.1% for the same period. Over the same 1-year horizon, the fund's lump-sum CAGR of 14.74% significantly outperformed the NIFTY 50's -2.9%, generating a positive alpha of 16.87%. However, over longer periods (3Y to 15Y), the fund's CAGR has been modest, ranging from 0.76% to 3.84%, while still beating the benchmark's near-zero returns.
The fund exhibits a maximum drawdown of only -0.23%, with a recovery period of 429 days, indicating relatively shallow but prolonged drawdowns. The Calmar ratio for 1 year is 0.28, suggesting modest risk-adjusted returns relative to the drawdown experienced. With a beta of 0.92 against the NIFTY 50, the fund is slightly less volatile than the benchmark, and its downside capture of 75.56% indicates it loses less in down markets, though upside capture is also slightly below 100%.
The fund is concentrated in manufacturing-related sectors, with top holdings including Tata Steel, Reliance Industries, and Mahindra & Mahindra, each around 4-5% of NAV. Sector allocation is led by Auto Components (14.5%), Industrial Products (12.4%), and Automobiles (9.5%), reflecting a thematic focus on manufacturing. With 51 total holdings and a top-10 concentration of about 37%, the portfolio offers moderate diversification within the theme.
The fund's 1-year XIRR of 9.67% lags the category average of 14.1%, placing it in the lower quartile of sectoral/thematic peers. Over longer horizons, the fund's performance has been weak, with 3-year and 5-year XIRRs not provided, but the category averages are significantly higher (16.82% and 16.95%), suggesting the fund has underperformed peers consistently. The fund's alpha versus the benchmark is positive across all periods, but the absolute returns remain modest, indicating a lack of consistency in outperforming its category.
This fund is suitable for investors with a high risk tolerance and a long-term investment horizon (7+ years) who believe in the growth potential of the Indian manufacturing sector. Given its sectoral/thematic nature, it should be used as a satellite holding, not a core portfolio component, and only by those who can withstand sector-specific volatility. Investors should be aware that the fund has underperformed its category peers recently and may not be ideal for those seeking consistent returns.
- Strong 1-year alpha of 16.87% versus the NIFTY 50, with a fund CAGR of 14.74% against a negative benchmark return.
- Lower downside capture (75.56%) than the benchmark, providing some protection in falling markets.
- Diversified across 51 holdings with a focus on manufacturing, reducing single-stock risk.
- 1-year SIP XIRR of 9.67% is significantly below the category average of 14.1%, indicating underperformance relative to peers.
- Long-term CAGR (3Y to 15Y) is below 4%, which is low for an equity fund and may not meet investor return expectations.
Generated on 29-08-2026, 3:07 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.59 L | 9.7% | -12.6% | 21.1% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 9.7% | 14.4% | 14.1% | -4.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 6.4% | 6.7% | -6.0% | 23.4% | -0.01 | -0.02 | 74% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +16.87 | 0.92 | 98.1% | 75.6% | 14.7% | -2.9% |
| 3 Years | +3.40 | 0.95 | 95.4% | 88.3% | 3.8% | 0.1% |
| 5 Years | +1.90 | 0.95 | 95.4% | 88.3% | 2.3% | 0.1% |
| 7 Years | +1.27 | 0.95 | 95.4% | 88.3% | 1.6% | 0.1% |
| 10 Years | +0.80 | 0.95 | 95.4% | 88.3% | 1.1% | 0.1% |
| 12 Years | +0.61 | 0.95 | 95.4% | 88.3% | 0.9% | 0.0% |
| 15 Years | +0.43 | 0.95 | 95.4% | 88.3% | 0.8% | 0.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Tata Steel Limited | 4.96% |
| 2 | Reliance Industries Limited | 4.60% |
| 3 | Mahindra & Mahindra Limited | 4.40% |
| 4 | Shriram Pistons and Rings Limited | 4.00% |
| 5 | Sun Pharmaceutical Industries Limited | 3.85% |
| 6 | Divi's Laboratories Limited | 3.67% |
| 7 | Hindalco Industries Limited | 3.35% |
| 8 | Bajaj Auto Limited | 2.87% |
| 9 | Bharat Electronics Limited | 2.81% |
| 10 | Aditya Vision Ltd | 2.54% |